IWM All-time Closing High as SPX Reverses Tuesday's Drop Led by Energy and Financial Sectors...

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Futures rose overnight as sellers with concerns over political instability in Italy appeared to have exhausted on Tuesday. The rally, which reversed Tuesday’s selloff, continued after the open led by the energy and financial sectors.

AMZN, MSFT, NFLX, MU, ADBE and CSX made new highs.

IWM bounced in its bull flag setup while QQQ and SPY are horizontal breakout setups.   

The DJIA, closed up 306 points at 24,667, led by strength in BA, DVX, HD, XOM, MMM, GS and UNH.

Ten sectors were higher on Wednesday, led by energy XLE +3.03% and financial XLF +1.82%.

SPY up 3.59 at 272.61 on 69.5 million shares, 6% below average volume. Up on lower volume.

VIX down 2.08 at 14.94

Oil up 1.36 to 68.23

TLT down .82 at 121.42 on 11.6 million shares.

XOM +3.93%, CVX +3.11%, led the DJIA, 27 advancers.

NFX +5.34%, SWN +4.93% and APC +4.74%, led the SPX.

MNST +5.42%, TSLA +2.81%, BIIB +2.55%, and KHC +2.51%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: IWM, DIA, SPY, QQQ,

Down:

Breadth strengthened on Wednesday, as advancers led 2,380 to 546 on the NYSE and led 1,991 to 880 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 85, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

76 of 100 NDX stocks closed higher on Wednesday.

70 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ALXN, ASML, DLTR, ISRG, MDLZ, MYL, SBUX, STX, TSLA, VRSK, VRTX, WDAY,

Moving Below 30 DMA = 1

AMAT,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

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